Nathan’s Famous Hotdogs Sells to Smithfield Foods in All-Cash $450M Deal

Nathan’s Famous, which opened as a 5-cent hot dog stand in Coney Island more than a century ago, has been sold to packaged meat giant Smithfield Foods in an all-cash $450 million deal, the companies announced Wednesday.

Smithfield, which has held rights to produce and sell Nathan’s products in the U.S. and Canada and at Sam’s Clubs in Mexico since 2014, will acquire all of Nathan’s outstanding shares for $102 each.

Read more at AP News